United Kingdom's trade with the rest of Europe

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Share of UK's trade with the rest of the EU (percent)

2004 2014 
Imports56.153.0
Exports58.947.9
Average57.550.5

The table shows how much the U.K. linked with the rest of Europe:

  • Most imported goods still come from other EU member states.
  • The U.K. exports a lower share of its good to other EU countries than it used to, but "new markets" are not sufficiently deep to absorb U.K.'s exports, if the EU becomes more closed (and Britain chooses not to be a EU member).
  • Looking at the eurozone countries (chart 1), they exported about as much to the U.K. in 2003 as they did 2010.
  • The U.K. is now 95% more important to the eurozone than China (chart 2). This relative size of export has stabilized in 2011, but could fall further in the event of a Brexit.

Chart 1: Exports from the eurozone to selected non-eurozone trading partners

Chart 2

Data sources for the table and Charts 1 & 2: Eurostat

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